Updated Two-Unit
New
For Sale
$290,000
2113 Station Rd, Erie, PA 16510
Each residence offers three bedrooms and one bath, with updated wiring and electrical panels serving both units.
Property Size1,981 SF
Price / SF$146.39
Days on Market4
Property Features for 2113 Station Rd
General Information
Standard status
Active
Size
1,981 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,739
Listing Agency:
Coldwell Banker Select - Edinboro
(814) 734-1144
Listed By:
Mark Hutchison · License #RS120117A
(814) 450-3389
Source:
Exprealty
Added: Oct 30
Changed: Nov 1
Last Checked: Nov 1 at 3:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Select - Edinboro
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Investment Insights
Based on property information with market context.
This duplex contains two residences, each configured with three bedrooms and one bathroom. The property totals 1,981 square feet and has updated wiring and electrical panels. Kitchen updates were completed in 2010, while the bathrooms were remodeled in 2021 and 2023. The roof and siding were replaced in 2014, and all windows were changed in 2019.
The property is near Behrend University, with access to Bayfront Highway and I-90.
The property is near Behrend University, with access to Bayfront Highway and I-90.
Key Highlights
- Two units, each with 3 bedrooms and 1 bath
- 1,981 square feet total
- Updated wiring and electrical panels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,607
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,140
$272.1K
Cap Rate 7%
$194,386
$194.4K
Cap Rate 9%
$151,189
$151.2K
Market Conditions
NOI Build-Up for 1,981 SF
Gross rent
$20.2K $10.20/SF
− Vacancy
−$768 −$0.39/SF
EGI
$19.4K $9.81/SF
− OpEx
−$5.8K −$2.94/SF
NOI
$13.6K $6.87/SF
Area
Erie County, PA
Vacancy
3.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,140
Cap Rate 7%
$194,386
Cap Rate 9%
$151,189
Alternative Uses
Best Use
Multifamily LT 5
$194.4K
$170.1K – $226.8K
NOI $13,607 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$173.9K
$152.2K – $202.9K
NOI $12,175 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$491.5K
$430.0K – $573.4K
NOI $34,403 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Explore this area
Business Placement
Demographics for 16510, PA
24,515
Population
10,354
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
33.0 sq mi
ZIP Area
743
Density / Sq Mi
$64,938
Median Household Income
$40,064
Median Earnings
$796
Median Rent
$158,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms and one bath, with updated wiring and electrical panels serving both units.
Where is this duplex located?
The property is located at 2113 Station Rd Erie, PA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 bath; 1,981 square feet total; Updated wiring and electrical panels
